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Major shareholder to sell $83 mln Parkson Retail shrs

Mon Jun 1, 2009 8:46pm EDT

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HONG KONG, June 2 (Reuters) - Chinese department store operator Parkson Retail Group (3368.HK) said late on Monday that its controlling shareholder, Parkson Holdings Berhad (PRKN.KL), would sell up to 1.96 percent of the company for HK$644 million (US$82.5 million).

Parkson Retail said the controlling shareholder planned to sell up to 55 million existing shares of the company at HK$11.71 each. UBS Securities Asia (UBSN.VX)(UBS.N) is handling the deal.

Parkson Holdings owns 53.58 percent of the Hong Kong-listed firm. Parkson Retail shares rose 1.65 percent to close at HK$12.32 on Monday.

For statement please click here

(US$1=HK$7.8) (Reporting by Donny Kwok; Editing by Ken Wills)



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